Making the choice to swap between a regular online casino and a bitcoin casino is now easier than ever.
Does everyone wonder why major online casino review platforms have such a massive bitcoin casino section? Just a quick peek at Casino Genie and you’ll see there are hundreds of great bitcoin-centric sites to choose from.
The growing popularity of Bitcoin Casinos is no secret, and that’s mostly because bitcoin gambling is awesome.
1. They’re a good way to get free bitcoin
Bitcoin is definitely at premium prices right now and has been holding strong since July, so the likelihood that you’ll be able to jump in and find a decent buy-in price for bitcoin anytime soon is fairly low.
This means that most bitcoin investors or people curious about owning bitcoin are always on the lookout for ways to get a hold of some for free. Bitcoin’s market values are heavily influenced by three main factors:
● Artificial Scarcity
● Public Interest and Adoption
● Whales and Institutions
The concept of artificial scarcity means that there is a finite of bitcoin in existence. No more will ever be created, and the amount that exists within the market itself is tightly controlled by mining practices.
So only so much bitcoin will ever be available at any given time. Because of this, the more people that are interested in buying bitcoin, the more expensive it becomes. Similar to gold or diamonds- when there is more demand than supply, prices rise.
Whales and institutions are basically high net-worth investors that own large amounts of bitcoins. These coins are often kept locked away in wallets, furthering the decrease in circulating supply.
When whales or institutions sell, this can sometimes flood the market with coins, causing a sharp reduction in price.
On top of bitcoin being worth some serious money, bitcoin casinos are still a relatively new business niche, so they’re looking to snag- and keep- customers in any way they can.
For any casino, this often means running big bonuses and promotions in order to pique interest. This means that now is the best time to check out bitcoin casinos as these promotions could earn you more than just a pretty penny.
2. Casino reviews are comprehensive
When bitcoin casinos first debuted, many players were skeptical about the transparency of their odds. As bitcoin dedicated gambling sites run on unique software- offering all the same games, but purpose-built for bitcoin by bitcoin developers.
Many possible clients grew concerned over the possibility of code manipulation in favor of the house, so for a long time, these casinos got a bad rap.
However, because of this, bitcoin casino developers have now begun to publicly display the algorithms they use, in order to facilitate transparency and quell the fears of their customers.
This means that just about every bitcoin casino site offers an in-depth look at the software and coding that goes on behind their user interface- however, not all customers are computer literate enough to read these often confusing and esoteric codes- so casino review sites do it for them.
Bitcoin casino reviews offer a compressive guide to what is going on behind the scenes of the major bitcoin casinos, comparing not only their code, but also the terms and conditions, bonuses, promotions, and payment systems that each site offers.
This can make it much easier for anyone interested in playing with their bitcoin to choose the casino site that best suits them and their bankroll.
3. A Bitcoin casino is safer than traditional casinos
Bitcoin casinos aren’t just safer than regular gambling sites, they’re way faster and so far, come under far fewer regulations.
So, it’s a win-win-win for players, especially if there are bonuses and promotions involved as well! What makes bitcoin so safe is reliant on the inherent anonymity of the coin itself.
When transacting with traditional banks, you have to send some pretty important payment details to whoever is is your transacting with.
These details can be things like names, addresses, credit cards, and bank account numbers, security codes, driver’s licenses… and on and on. Bitcoin casinos rarely require any of this, because bitcoin itself doesn’t require it.
Bitcoin transactions are done in what’s considered a pseudo-anonymous way- which basically means they won’t be passing along your personal info as well as your money.
So for privacy concerns and risks to personal security and identity, bitcoin casinos are definitely the way to go. They’re also incredibly difficult to regulate, as bitcoin itself is a decentralized currency.
Meaning there is no one authority that states how or where bitcoin can be spent. While many governments attempt to regulate bitcoin in their own arena- bitcoin doesn’t actually have many rules of its own.
It’s a completely borderless currency, so it’s difficult to place age or geolocation-based restrictions on it.
Because there is no centralized banking structure or any of the IRS style red tapes for “bitcoin institutions” transactions and withdrawals are generally much quicker to go through on the bitcoin network than they are with traditional banks- which gets you your money faster.
Leaving the only thing left to do is pick up some bitcoin and go check out some reviews because we’re off to the [online] races!